TeraWulf (NASDAQ:WULF) Trading Up 11.3% – Still a Buy?

TeraWulf Inc. (NASDAQ:WULF) was up 11.3% during trading on Tuesday . The stock traded as high as $25.74 and last traded at $25.40. Approximately 17,020,470 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 30,869,732 shares. The stock had previously closed at $22.82.

Analyst Ratings Changes

Several equities research analysts recently commented on WULF shares. Keefe, Bruyette & Woods boosted their price target on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price on shares of TeraWulf in a research report on Friday, April 17th. Oppenheimer lifted their price target on shares of TeraWulf from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Finally, Citigroup restated an “outperform” rating on shares of TeraWulf in a research note on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.59.

TeraWulf Price Performance

The stock’s 50 day moving average price is $19.27 and its two-hundred day moving average price is $15.85. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of -10.28 and a beta of 3.84.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. During the same period in the prior year, the company posted ($0.16) earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that TeraWulf Inc. will post -0.53 EPS for the current year.

Insider Activity

In other news, CEO Paul B. Prager sold 79,200 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $20.62, for a total value of $1,633,104.00. Following the completion of the sale, the chief executive officer directly owned 884,320 shares of the company’s stock, valued at approximately $18,234,678.40. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael C. Bucella acquired 1,665 shares of TeraWulf stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $15.04 per share, with a total value of $25,041.60. Following the completion of the transaction, the director directly owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 13,094 shares of company stock valued at $200,392 and sold 954,200 shares valued at $16,390,854. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the third quarter valued at $29,000. First United Bank & Trust acquired a new position in shares of TeraWulf in the first quarter valued at $37,000. Vermillion Wealth Management Inc. raised its stake in shares of TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC acquired a new position in shares of TeraWulf in the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC acquired a new position in shares of TeraWulf in the first quarter valued at $48,000. 62.49% of the stock is owned by institutional investors.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.